Taxpayers advised to file early to fight fraud
Income tax season started Friday for individual taxpayers, and while many might not be in a hurry to file their returns, it’s a sure bet that criminals are poised to push the send button and transmit bogus documents. Using the victim’s Social Security number, they snag a refund before the legitimate taxpayer files. A 2013 Treasury Inspector General for Tax Administration report found that while the IRS is stopping more fraudulent returns, it issued an estimated $3.6 billion in potentially bogus 2011 refunds. The problem of tax-related identity theft continues to grow along with identity theft overall. Read more…
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